NEW YORK, Aug. 4, 2022 /PRNewswire/ — The “Solar Power Market in Brazil by End-user, Application, and Geography – Forecast and Analysis 2022-2026” report has been added to Technavio’s offering. According to the report, the market will observe an incremental growth of 89.57 TWh between 2021 and 2026. However, the growth momentum is expected to decelerate at a CAGR of 47.24% during the forecast period. The The report provides a comprehensive analysis of recent developments, new product launches, major revenue-generating segments, and market behavior across geographies. Download Sample PDF Report Here
The market is concentrated due to the presence of few vendors operating in the competitive landscape. Vendors are adopting various organic and inorganic growth strategies such as new product launches and engaging in M&A activities to increase their market shares. For instance, in September 2021Canadian Solar Inc. announced the long-term operations and maintenance agreements with two solar PV plus battery storage projects in the US. Similarly, in January 2021JinkoSolar Holding Co. Ltd. announced the agreement with ALDO Solar, the leading distributor of solar power equipment.
Technavio identifies Abengoa SA, BrightSource Energy Inc., Canadian Solar Inc., ENGIE SAFirst Solar Inc., JinkoSolar Holding Co. Ltd., Scatec ASA, Tata Power Co. Ltd., Waaree Energies Ltd., and Yingli Green Energy Holding Co. Ltd. as some of the major market participants.
The market is primarily driven by the presence of sunny climatic conditions in Brazil. Brazil is located in a latitude zone where the incidence of solar radiation is maximum than the rest of the globe. This has significantly boosted the solar power sector in the country over the years. In addition, trends such as the increasing usage of renewable electricity will have a positive impact on the growth of the market. However, the slow growth in photovoltaic systems, high construction and maintenance of solar power plants, and the inclination toward hydropower plants will hamper the growth opportunities of market players.
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. View Sample Report Here
The solar power market in Brazil is segmented as below:
The utility segment held the largest share of the market in 2021. The market growth in the segment will be significant during the forecast period.
By application, the grid-connected segment will account for maximum revenue generation in the market. Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our solar power market in Brazil report covers the following areas:
Solar Power Market in Brazil 2022-2026: Vendor Analysis
We provide a detailed analysis of around 25 vendors operating in the solar power market in Brazil. Backed with competitive intelligence and benchmarking, our research report on the solar power market in Brazil in designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.
Solar Power Market in Brazil 2022-2026: Key Highlights
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will assist solar power market growth in Brazil during the next five years
- Estimation of the solar power market size in Brazil and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the solar power market in Brazil
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the…